H 
5.10p
-2.86%
Close of 9 Nov 2026, in pence
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in GBP, from our data supplier.
Revenue
£46.8m
FY2016FY2025
Net income
−£6.0m
FY2016FY2025
Free cash flow
−£14.8m
FY2016FY2025
Shareholders' equity
£38.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £46.8m | £62.7m | £56.0m | £48.5m | £36.9m | £20.6m | £3.3m | £12.5m | £15.5m | £15.3m |
| Research and development | £5.8m | — | £31,177 | £82,000 | — | — | — | — | — | — |
| Operating income | −£348,999 | £12.9m | £10.1m | £6.0m | £590,000 | −£10.4m | −£5.0m | −£2.1m | £46,162 | −£478,199 |
| Net income | −£6.0m | £10.7m | £16.1m | −£776,000 | −£74,000 | −£10.8m | −£5.6m | −£4.3m | −£1.4m | £453,479 |
| Diluted earnings per share | -0.01 | 0.02 | 0.02 | -0.00 | -0.00 | -0.02 | -0.02 | -0.06 | -0.02 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £71.8m | £88.9m | £83.2m | £51.4m | £42.3m | £48.5m | £9.1m | £7.8m | £10.8m | £12.5m |
| Cash and short-term investments | £14.3m | £44.2m | £37.0m | £28.4m | £15.7m | £19.2m | £1.0m | £989,832 | £1.0m | £2.9m |
| Total liabilities | £33.7m | £44.2m | £48.9m | £31.2m | £21.6m | £26.2m | £6.2m | £3.9m | £3.1m | £3.6m |
| Debt | £14.8m | £12.9m | £12.5m | £2.3m | £3.1m | £4.8m | £3.1m | £1.4m | £22,193 | £51,144 |
| Shareholders' equity | £38.2m | £44.7m | £34.3m | £20.2m | £20.7m | £22.3m | £2.9m | £3.9m | £7.8m | £8.9m |
| Shares outstanding | 684m | 688m | 692m | 671m | 670m | 668m | 256m | 72m | 65m | 64m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£13.4m | £10.3m | £17.2m | £16.0m | −£1.6m | £4.2m | −£2.8m | −£996,143 | −£1.2m | −£293,227 |
| Capital spending | −£1.4m | −£2.5m | −£5.2m | −£1.4m | −£739,000 | −£1.1m | −£23,067 | −£71,217 | −£485,596 | — |
| Free cash flow | −£14.8m | £7.9m | £12.1m | £14.6m | −£2.3m | £3.1m | −£2.8m | −£1.1m | −£1.7m | −£293,227 |
| Dividends paid | −£1.4m | −£1.4m | −£3.1m | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £16.3m | £22.6m | £25.4m | £25.5m | £37.2m | £18.6m | £30.0m | £15.0m |
| Operating income | −£8.5m | −£5.9m | −£370,000 | £6.0m | £6.9m | £3.4m | £6.5m | £3.2m |
| Net income | −£6.5m | −£5.9m | −£110,000 | £5.4m | £5.3m | £2.6m | £12.2m | £6.1m |
| Diluted earnings per share | -0.01 | -0.01 | -0.00 | 0.01 | 0.01 | 0.00 | 0.02 | 0.01 |
| Cash from operations | — | −£6.0m | −£7.0m | £7.0m | £2.0m | £1.0m | £10.0m | £5.0m |
| Capital spending | — | — | — | — | −£1.0m | — | −£4.0m | −£2.0m |
| Free cash flow | — | — | — | — | £1.0m | — | £6.0m | £3.0m |
| Total assets | £73.1m | £71.8m | £85.7m | £88.9m | £87.7m | — | £83.2m | £96.0m |
| Cash and short-term investments | £13.0m | £14.3m | £23.3m | £44.2m | £37.1m | — | £37.0m | £42.7m |
| Debt | £2.2m | £2.5m | £2.5m | £2.5m | £1.4m | — | £367,000 | £423,523 |
| Shareholders' equity | £32.1m | £38.2m | £43.6m | £44.7m | £38.5m | — | £34.3m | £39.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.2% | 17.8% | 18.6% |
| Operating income | — | -49.3% | 5.2% |
| Net income | 97.7% | -11.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 11.4% | 13.4% | 6.9% | 3.4% |
| Net margin | 4.3% | 9.3% | 3.4% | -0.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.2 | 7.1 | 5.5 | -46.4 | -1117.6 | -7.7 | -1.0 | -0.1 | -2.6 | 15.4 |
| Price to sales | 0.9 | 1.2 | 1.6 | 0.7 | 2.2 | 4.0 | 1.7 | 0.1 | 0.2 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 15 May 2025.
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Paid in the year | 0.002 | 0.002 | 0.005 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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